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Entrepreneurship is the pursuit of opportunity without regard to resources currently controlled.

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http://www.inc.com/eric-schurenberg/the-best-definition-of-entepreneurship.html

"Now I've seen it, and it comes from Harvard Business School, of all places. It was conceived 37 years ago by HBS professor Howard Stevenson. I came across it in the book Breakthrough Entrepreneurship (which I highly recommend) by entrepreneur and teacher Jon Burgstone and writer Bill Murphy, Jr. Of Stevenson’s definition, Burgstone says, “people often need to say it out loud 50 or 100 times before they really understand what it means.”"

GREAT definition, Tim. Also:

Every time you want to make any important decision, there are two possible courses of action. You can look at the array of choices that present themselves, pick the best available option and try to make it fit. Or, you can do what the true entrepreneur does: Figure out the best conceivable option and then make it available.

For what it's worth, I also like Eric Ries's definition of entrepreneurship:

33. "Entrepreneurship is a management system for dealing with uncertainty."

But I like Stevenson's definition best.

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